Linton Hydro Limited 31/03/2020 iXBRL

Linton Hydro Limited 31/03/2020 iXBRL

LINTON HYDRO LTD - Company Information

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Company registration number: 10141737
Linton Hydro Limited
Unaudited filleted financial statements
31 March 2020
LINTON HYDRO LIMITED
Contents
Statement of financial position
Notes to the financial statements
LINTON HYDRO LIMITED
STATEMENT OF FINANCIAL POSITION
31 MARCH 2020
Note £ £ £ £
Fixed assets
Investments 5 554,000 554,000
_______ _______
554,000 554,000
Current assets
Debtors 6 3,241,572 2,764,438
Cash at bank and in hand 1,257 23
_______ _______
3,242,829 2,764,461
Creditors: amounts falling due
within one year 7 ( 148,991) ( 369,794)
_______ _______
Net current assets 3,093,838 2,394,667
_______ _______
Total assets less current liabilities 3,647,838 2,948,667
Creditors: amounts falling due
after more than one year 8 ( 3,300,000) ( 2,500,000)
_______ _______
Net assets 347,838 448,667
_______ _______
Capital and reserves
Called up share capital 494,000 494,000
Profit and loss account 9 ( 146,162) ( 45,333)
_______ _______
Shareholders funds 347,838 448,667
_______ _______
For the year ending 31 March 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 24 April 2020 , and are signed on behalf of the board by:
Mr Pete Kibel
Director
Company registration number: 10141737
LINTON HYDRO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2020
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Woodwater House, Pynes Hill, Exeter, Devon, EX2 5WR.
Principal activity
The principal activity of the company is holding company for companies building and running hydro- power stations.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Going concern
The company is continuing as a going concern under the financial support of its directors and its associated companies.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2019: 5 ).
5. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2019 and 31 March 2020 554,000 554,000
_______ _______
Impairment
At 1 April 2019 and 31 March 2020 - -
_______ _______
Carrying amount
At 31 March 2020 554,000 554,000
_______ _______
At 31 March 2019 554,000 554,000
_______ _______
6. Debtors
£ £
Amounts owed by subsidiaries 2,103,802 2,311,802
Other debtors 1,137,770 452,636
_______ _______
3,241,572 2,764,438
_______ _______
The debtors above include the following amounts falling due after more than one year:
£ £
Amounts owed by subsidiaries 2,103,802 2,311,801
_______ _______
7. Creditors: amounts falling due within one year
£ £
Trade creditors - 2,400
Accruals and deferred income 69,602 139,164
Other creditors 79,389 228,230
_______ _______
148,991 369,794
_______ _______
8. Creditors: amounts falling due after more than one year
£ £
Other creditors 3,300,000 2,500,000
_______ _______
Included within creditors: amounts falling due after more than one year is an amount of £ 2,200,000 (2019 £ 937,500 ) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bond is secured on the companys assets and those of its subsidiary.
9. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.